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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose Energy correspondent

Shell to take hit of up to $2bn on Rotterdam and Singapore sites

Shell Rotterdam Singapore Oil British Petroleum Europe
Logo at a Shell petrol station in London.
Shell’s share price edged down 0.3% on Friday morning, making it one of only a handful of FTSE 100 stocks to fall. Photograph: Yui Mok/PA

Shell has warned investors that it will take an impairment charge of up to $2bn (£1.6bn) in its next set of results after it was forced to halt work on Europe’s largest biofuel project and sell off a Singapore refinery.

The oil company told investors to expect a non-cash writedown of between $600m and $1bn when it publishes its second-quarter results next month because of trouble at a major biofuel project in Rotterdam in the Netherlands.

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